The loop burns out within a week or two and you replace it or when you don't have any new tips, you twist them together. ergo, just buy a fatter tip. Had an installer tell me my same gun finally shorted on him and turned the whole tip molten red, then it dropped off. Burnt through the customer's floor mat, carpet and straight to the pan. They had to repair the whole thing, new floormat etc. Worked the balls in December and January installing everyone's remote starters. zapped myself twice in the same day with this gun lol
that's not what the last one cost, that's for sure!
I'd bet the actual tip is just a chunk of metal. If you can get the screw out of the end and take a look at it, you might be able to find a replacement, clean that one up or possibly make one. If you're going to chuck it in the trash, it's worth a try.
A YT video on making soldering tips. He just some heavy gauge copper and cuts to the right shape.